Denying any shortage local tyre producers are urging the Government not to import motorbike and three-wheeler tyres.
The companies said their factories have the capacity to supply the demand for tyres locally, and that they are already supplying products to the market, thereby fulfilling local needs. In 2019, Rs. 1,062 million worth motorbike and three-wheeler tyres and tubes have been imported to the country. The country has made Rs. 1,062 million in foreign exchange savings by producing all of these locally.
The local tyre producers reiterate their support of the current Government’s drive to prioritise local manufacture by producing motorbike and three-wheeler tyres in Sri Lanka to fulfil local demand, and that they need the continued support of the Government to develop the production process.
Only a few types of tyres of special sizes that are not produced locally are imported in small numbers and they have less demand as they are not used widely, the local manufacturers stated. They also emphasise that they produce sufficient amount of tyres in high demand in the local market, without any shortfall.
Local motorbike and three-wheeler tyre manufacturers say that they are improving production capacity and aim to increase the amount of exports from the present volume. They also believe that they can create thousands of new jobs through this initiative.
(FT)